With petrol prices soaring past ₦1,000 per liter across Nigeria, filling stations are fast becoming deserted ghost towns, as struggling citizens abandon personal vehicles for public transport. The ripple effects are clear: petrol marketers are facing dwindling sales, high costs, and mounting layoffs across the nation.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) are sounding the alarm on this unprecedented crisis. PETROAN President Billy Gillis-Harry revealed the startling price inflation on Channels Television’s The Morning Brief on Monday. “Just months ago, we were buying 45,000 liters for under ₦8.5 million. Now, it’s around ₦49 million. Banks aren’t stepping in, and interest rates are through the roof. Nigerians simply can’t afford to buy,” he said.
Echoing his concerns, IPMAN’s Ukadike Chinedu described filling stations as virtually empty. “The middle class has ditched their cars for public transport, and stations are barely seeing customers. The volume of trade has dropped drastically because customers are switching to alternative transport and cutting down on non-essential trips.” Filling stations, once bustling, are now seeing just a few cars per day, a stark departure from earlier times of high demand.
Nigeria has already witnessed two significant protests against President Bola Tinubu’s economic policies, which many argue have exacerbated living costs. Since the removal of fuel subsidies and the unification of forex rates, prices of basic goods, energy, and transportation have skyrocketed, triggering financial hardship. From a fuel price of under ₦200 per liter, citizens are now confronted with over ₦1,000 per liter—an almost surreal reality.
Petrol marketers are calling on the government to act, requesting a ₦100 billion seed fund to prevent the complete collapse of the sector, likening it to the relief funds provided to the agricultural and aviation sectors. Yet, the administration insists that these “reforms” are necessary, despite the brutal impact on everyday Nigerians.
As the government holds firm on its policies, citizens and businesses alike are left wondering how long they can bear the cost of living, with no relief in sight.
